It seems that Prime Minister Narendra Modi is doing his best to make India a less-cash economy. PM Modi’s cash-in-hand dropped by 67 per cent to Rs 48,944 as of March 31, 2018, from Rs 150,000 he had same time in the previous year, disclosures made by the government show. In contrast, during 2016-17, the PM’s cash-in-hand had risen by 67 per cent from Rs 89,700 recorded in the year ago filings.
According to the latest filings for the financial year 2017-18, the overall worth of the PM’s financial assets, including the market value of the immovable assets he possesses, has gone up to Rs 22.8 million, up from a little over Rs 20 million in FY17.
This includes movable assets worth Rs 1,28,50,498 and the current market value of PM Modi’s residential property in Gandhinagar – worth Rs 1 crore.
The Prime Minister had bought a one-fourth part in a 3531.45 sq.ft. residential property for just over Rs 1 lakh in 2002. Its value has remained unchanged in the last one year.
Apart from immovable assets, the latest disclosure shows that the PM has a bank balance worth Rs 11,29,690 in SBI’s Gandhinagar NSCH Branch.
PM Modi has also invested Rs 1,07,96,288 in fixed deposits and MOD (Multi Option Deposit Scheme) at the same branch.
Infrastructure bond deposits (tax saving) of Rs 20,000 dated January 25, 2012, are part of PM’s declarations. He has also invested Rs 5,18,235 in National Saving Certificate (Post) and a life insurance (LIC) policy of Rs 1,59,281 as on March 31, 2018.
PM Modi doesn’t have any car registered in his name. PM’s latest declaration states that he doesn’t own any motor vehicle, aircraft, yachts or ships.
Also, the Prime Minister hasn’t bought any gold jewellery ever since he took over the office. His gold jewellery includes four pieces of gold rings, weighing approximately 45 grams worth Rs 1,38,060 as on March 31, 2018.
The declaration shows that the Prime Minister has not taken any loan from bank.
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Source- Business Today, Business Standard